Search results for overdraft accounts
Finance
Korean banks tighten lending standards ahead of government property measures
South Korea\'s financial sector is raising lending hurdles ahead of a possible government property package as early as next month. Banks are tightening self-imposed rules, including reducing credit loan limits and strengthening management of overdraft facilities, even as decisions on mortgage and jeonse loan curbs remain undecided. Markets are watching possible tighter jeonse loan guarantees and renewed focus on second-tier lenders. Internet-only banks are also cutting limits as demand shifts.
Finance
KB Kookmin Bank to cut credit loan limits, tighten household lending management
KB Kookmin Bank will temporarily adjust credit loan limits in response to rising household lending. The bank will lower the caps on general credit loans and overdraft accounts to manage household debt more steadily. The measures take effect on June 16. The maximum limit for general credit loans will be 100 million won, while overdraft account limits will be capped at 50 million won. Some products may follow separate standards.
Finance
Shinhan Bank tightens credit loan controls, limits non-face-to-face applications
Shinhan Bank will tighten management of credit loans in response to rising household debt. It will temporarily adjust the volume of non-face-to-face credit loan applications, limiting such requests when combined daily face-to-face and non-face-to-face intake exceeds internal standards. Support products for financially vulnerable groups will be excluded. The bank will also strengthen overdraft limit management, cutting limits by up to 20 percent at renewal for certain low-utilisation accounts.
